国盛金融控股集团股份有限公司（以下简称"公司"）第四届董事会第四十 八次会议通知于 2025 年 4 月 30 日以电子邮件、书面等方式送达全体董事，会议 于 2025 年 5 月 7 日上午以通讯表决方式召开。本次会议由董事长刘朝东先生召 集和主持，公司 9 名董事全部参加会议并表决，公司监事、高级管理人员列席本 次会议。会议的召集、召开符合《公司法》《证券法》等法律法规、部门规章及 《公司章程》的规定。 二、董事会会议审议情况 经与会董事审议表决，形成决议如下： 证券代码：002670 证券简称：国盛金控 公告编号：2025-020 国盛金融控股集团股份有限公司 第四届董事会第四十八次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 二〇二五年五月七日 1 1.审议通过《关于更换公司董事的议案》，本议案尚需提交股东大会审议。 表决结果：9 票同意、0 票反对、0 票弃权。 本议案已经公司董事会提名委员会事前审核认可，具体内容详见公司于同日 披露的《关于更换董事的公告》。 三、备查文件 1.经与会董事签字并加盖董事会印章的 ...

Group 1: Gold Market - International gold prices experienced a significant drop of $200, falling from approximately $3500 to $3316.26 per ounce as of April 26, reflecting a 0.96% decline in London and a 0.39% decline in New York [2] - Factors contributing to the decline include market sentiment reversal, unexpected recovery in the US supply chain, and potential delays in Federal Reserve interest rate cuts, which may strengthen the US dollar and pressure gold prices [2] Group 2: Automotive Industry - The 2025 Shanghai Auto Show showcased the strength and innovation of the Chinese automotive industry, attracting global attention with over 360,000 square meters of exhibition space [3] - The event is seen as a key indicator for predicting the future direction of the automotive industry over the next five years, despite some industry insiders suggesting that auto shows are no longer the primary platform for car manufacturers [3] Group 3: Guangdong Economic Performance - Guangdong's GDP for the first quarter reached 33,525.51 billion yuan, marking a 4.1% year-on-year growth, driven by strong performance in new energy vehicles and artificial intelligence sectors [4] - The province's economic structure is further optimized, with a total import and export value of 21.4 trillion yuan, reflecting a 4.2% increase [4] Group 4: BYD Financial Performance - BYD reported a record net profit of 9.155 billion yuan for the first quarter, a 100.38% increase year-on-year, with total revenue reaching 170.36 billion yuan, up 36.35% [5] - The company's strong performance is attributed to the growth in its new energy vehicle sales, which reached 1,000,800 units, representing a 59.81% increase [5] Group 5: China Ping An Financial Performance - China Ping An's first-quarter revenue was 256.618 billion yuan, a 7% year-on-year decline, while net profit dropped by 26.4% to 27.016 billion yuan [6] - The total assets of the company surpassed 13 trillion yuan, reaching 13.18 trillion yuan, indicating a stable financial position despite external challenges [6] Group 6: Guosheng Securities - Guosheng Securities reported a 658% increase in net profit to 167 million yuan for 2024 but remains the only listed brokerage in A-shares not to distribute cash dividends for seven consecutive years [7] - The company cited a lack of conditions for dividend distribution, despite achieving its highest profit since 2018 [7]

Core Viewpoint - Jiangxin Fund has undergone significant management changes, with the resignation of its chairman and general manager, raising concerns about the company's stability and future direction [1][2][5]. Group 1: Management Changes - Jiangxin Fund announced the resignation of Chairman Sun Zhenping and General Manager Yuan Liang on April 29, 2025, due to personal reasons and work arrangements, respectively [1][5]. - Sun Jian has been appointed as the new chairman and will also serve as the acting general manager, effective from April 29, 2025 [2][4]. - The company has experienced frequent management turnover, with notable departures occurring in May 2022, when four vice presidents and a chief information officer left simultaneously [5][6]. Group 2: Company Performance - Jiangxin Fund's asset management scale is currently only 2.038 billion yuan, ranking 146th among 162 public fund institutions [7][8]. - The company has faced significant financial challenges, reporting a net loss of approximately 33 million yuan in 2024, marking five consecutive years of losses [7][10]. - Despite being established in 2013, Jiangxin Fund has not launched any new fund products in over seven years, indicating stagnation in growth [7][8]. Group 3: Historical Context - The previous chairman, Sun Zhenping, served for 12 years since his appointment in 2013, while Yuan Liang held the general manager position for about 1.5 years [5][6]. - The fund's management scale peaked at over 4 billion yuan in Q3 2017 but has since declined significantly [7].

Group 1 - The core viewpoint of the articles highlights the strong performance of the brokerage industry in Q1, with significant profit growth reported by major firms like CITIC Securities [1][5][8] - CITIC Securities reported a revenue of 17.761 billion yuan, a year-on-year increase of 29.13%, and a net profit of 6.545 billion yuan, up 32% [1][3] - The increase in CITIC Securities' profits is attributed to higher revenues from wealth management and investment trading [1][3] Group 2 - A total of 41 listed brokerages have released their Q1 reports, with 40 reporting profits, and only Jinlong Co., Ltd. posting a loss of 95.731 million yuan [5][6] - Several brokerages experienced substantial profit increases, with Northeast Securities seeing an 859.84% rise, and Guotai Haitong up 392% [5][6] - The overall brokerage sector is expected to maintain a stable upward trend, with recommendations for strategic investments [7][8] Group 3 - Despite strong earnings, CITIC Securities' stock price has been on a downward trend for over five months, dropping nearly 28% since reaching a historical high [3][6] - As of the latest closing, CITIC Securities' stock price is 25.01 yuan, with a total market capitalization of 370.7 billion yuan [3][6] - The brokerage sector is anticipated to benefit from a low base effect in Q1, with expectations for further mergers and acquisitions [8]

Group 1 - Vanguard Fund has undergone significant management changes, with the chairman Wong Leah Kuen resigning for personal reasons and the deputy general manager Wu Yue retiring [1] - As of the end of Q1, Vanguard Fund's non-monetary fund size was 2.691 billion, showing little change from 2.717 billion at the end of the previous year [1] Group 2 - A total of 375 new funds have been established this year, with a total issuance scale of 307.993 billion, primarily driven by equity funds which accounted for 147.314 billion [2] - The Sci-Tech theme index funds have attracted significant investment, with a total issuance scale of 53.844 billion [2] Group 3 - The "fixed income +" products saw a growth of over 100 billion in Q1, with a quarter-on-quarter increase of over 5% [3] - Major fund companies like China Europe Fund and Fortune Fund reported significant growth in their "fixed income +" product management scale, each increasing by over 10 billion [3] Group 4 - Jiangxin Fund is experiencing potential leadership changes, with chairman Sun Zhenping planning to resign and propose Sun Jian from Guosheng Securities as the new chairman [4] - The proposal has faced strong opposition from board members [4] Group 5 - Chen Hongbin, former assistant general manager and chief economist at Pengyang Fund, has joined Huiquan Fund and is set to become its general manager [5] - Chen has over 20 years of experience in the financial industry, having worked at various institutions [5] Group 6 - Guo Lan has increased holdings in Zhongyuan Xiehe, with significant additions in shares for two funds managed by Guo Lan [7] - Zhongyuan Xiehe focuses on precision medical services, including cell detection, preparation, storage, and in vitro diagnostic products [7] Group 7 - The market experienced fluctuations on April 25, with power stocks rising and computing stocks rebounding [8] - The Nasdaq-related ETFs rose by approximately 4% [9] - Education ETFs fell by over 2%, while gold and real estate ETFs dropped by over 1% [10]

Investment Rating - The report maintains an "Overweight" rating for the banking sector [6] Core Viewpoints - The banking sector is expected to benefit from policy catalysts aimed at stabilizing the economy, with a focus on real estate, consumer spending, and social welfare [3] - The report highlights that personal non-performing loans (NPLs) are a significant concern, with a notable increase in the disposal of personal loans, particularly consumer loans [2][3] Summary by Sections 1. NPL Transfer Statistics for Q1 2025 - The total NPL transfer listing scale reached 74.27 billion yuan, a year-on-year increase of 190.5%, with actual transaction volume at 48.3 billion yuan, up 138.8% year-on-year [1] - Joint-stock banks were the primary sellers of NPLs, with a transaction volume of 20.36 billion yuan, accounting for 42.2% of total NPLs [1] - Personal loans accounted for 76.7% of the NPLs, with a transaction volume of 37.04 billion yuan, reflecting a significant year-on-year increase of 761% [2] 2. Sector Insights - Short-term impacts from tariff policies may affect exports, but long-term expansionary policies are expected to support economic growth [3] - The report identifies specific banks to watch under the pro-cyclical strategy, including Ningbo Bank, Postal Savings Bank, and China Merchants Bank [3] 3. Key Data Tracking - The average daily trading volume in the stock market was 1,146.755 billion yuan, an increase of 37.99 billion yuan week-on-week [4] - The balance of margin financing and securities lending was 1.80 trillion yuan, a decrease of 0.11% from the previous week [4] - The issuance of non-monetary fund shares reached 24.579 billion, an increase of 4.103 billion week-on-week [4]

Investment Rating - The report maintains an "Overweight" rating for the banking sector [6] Core Viewpoints - The banking sector is expected to benefit from policy catalysts, with a focus on cyclical stocks such as Ningbo Bank, Postal Savings Bank, China Merchants Bank, and Changshu Bank [3] - The report highlights that personal non-performing loans (NPLs) are a significant concern, with a notable increase in the disposal of personal loans, particularly consumer loans [2][3] Summary by Sections 1. Non-Performing Loan Transfer Statistics - In Q1 2025, the total transfer of non-performing loans reached 74.27 billion yuan, a year-on-year increase of 190.5%, with actual transaction volume at 48.3 billion yuan, up 138.8% year-on-year [1] - Joint-stock banks were the primary sellers of non-performing loans, accounting for 20.36 billion yuan, or 42.2% of the total [1] - Personal loans represented the majority of non-performing loans, with a transaction volume of 37.04 billion yuan, making up 76.7% of the total [2] 2. Sector Insights - Short-term impacts from tariff policies may affect exports, but long-term domestic policies aimed at stabilizing real estate and promoting consumption are expected to support economic growth [3] - The report suggests that the banking sector will see a sustained benefit from these policies, with a focus on cyclical strategies and dividend strategies for investment [3] 3. Key Data Tracking - The average daily trading volume in the stock market was 1,146.755 billion yuan, an increase of 37.99 billion yuan week-on-week [4] - The balance of margin financing was 1.80 trillion yuan, a slight decrease of 0.11% from the previous week [4] - The issuance of non-monetary funds reached 24.579 billion units, an increase of 4.103 billion units week-on-week [4]

每经记者 彭水萍 每经编辑 赵云 ｜2025年4月25日 星期五｜ NO.1 券商掀起一季度业绩浪，4家券商净利润翻倍 今年以来新发基金规模突破3000亿元，多达45只权益类基金募集规模超过10亿元。Choice数据显示，截 至4月24日，今年以来共成立了375只新基金，发行规模为3079.93亿元。权益类基金成为发行主力，共 有275只新基金成立，发行规模合计为1473.14亿元，其中45只发行规模在10亿元以上。具体来看，科创 主题指数基金强势吸金，发行规模合计538.44亿元。 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 NO.2 中信证券：汇金持有的ETF份额未曾出现净减少的情况 中信证券研报指出，2025年4月以来，汇金积极增持ETF有效稳定资本市场预期、提振投资者信心。但 同时市场有传言称汇金通常在市场阶段性上涨后卖出（如2024Q4）、近期的增持行为将对未来行情构 成减持压力，基于事实数据，此类揣测与实际情况完全不符。由于季报并不披露基金前10大持有人的信 息，我们统计了2023Q4-2025Q1公募基金季报披露的"单一投资者持有份额比例达到或超过20% ...

先看海外要闻： 沃勒等美联储高官讲话令市场的降息预期升温，美国股债齐涨，金油反弹。 消息称特朗普考虑对华关税分级方案。（央视） 美股收盘道指涨1.23%，标普500指数涨2.03%，纳斯达克涨2.74%。 特斯拉、英伟达、微软、亚马逊均收涨超3%。财报后，下调指引的宝洁跌近4%，谷歌盘后跳涨超5%。 中概指数盘初跌1.5%后转涨，录得四连阳。小马智行涨超39%，奥斯汀科技涨超32%，阿特斯涨超18%，蔚来涨超6%。 美联储官员讲话后，美债收益率加速下行。两年期美债收益率和美元指数脱离一周高位。离岸人民币盘中跌近200点失守7.30。 大家早上壕！ 国内重大事件汇总： 1、工信部等七部门印发《医药工业数智化转型实施方案（2025-2030年）》：深化人工智能赋能应用。支持相关单位建立医药大模型创新平台。 开展"人工智能赋能医药全产业链"应用试点。 2、工信部公开征求对《关于加强电动自行车强制性国家标准实施 促进新产品有序供应的意见（征求意见稿）》的意见。 3、外交部：中美没有就关税问题磋商或谈判，更谈不上达成协议。 4、20个部门联合部署跨境贸易便利化专项行动。 5、财政部下达水利发展资金471亿元，聚焦保安全 ...